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please help me to account. thx Question 3 Kingbird Company has two classes of capital stock outstanding: 9%, $20 par preferred and $5 par common.
please help me to account. thx
Question 3 Kingbird Company has two classes of capital stock outstanding: 9%, $20 par preferred and $5 par common. At December 31, 2017, the following accounts were included in stockholders equity Preferred Stock, 165,000 shares Common Stock, 2,018,000 shares Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par-Common Stock Retained Earnings 3,300,000 10,090,000 204,000 27,531,000 4,490,000 The following transactions affected stockholders' equity during 2018 Jan.1 29,100 shares of preferred stock issued at $24 per share Feb. 1 49,800 shares of common stock issued at $21 per share. June stock split (par value reduced to $2.50) July 1 29,400 shares of common treasury stock purchased at $9 per share. Kingbird uses the cost method Sept. 15 9,400 shares of treasury stock reissued at $12 per share Dec. 31 The preferred dividend is declared, and a common dividend of 51g per share is declared Dec. 31 Net income is $2,123,000 Prepare the stockholders' equity section for Kingbird Company at December 31, 2018. (Enter account name only and do not provide descriptive information.) KINGBIRD COMPANY December 31, 2018 Capital Stock Preferred Stock Common Stock Total Capital Stock Additional Paid-in Capital Paid-in Capital in Excess of Par-Preferred Stock Paid-in Capital in Excess of Par Common Stock Paid-in Capital from Treasury Stock Total Paid-in Capital Retained Earnings Total Paid-in Capital and Retained Earnings Less easury Stock Total Stockholders' Equity Click if you would like to Show Work for this question: Open Show WorkStep by Step Solution
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